The 500lb (250kg) device was found on a building site in Grange Walk, Bermondsey on Monday.
Two primary schools were closed and hundreds of homes were evacuated as a precaution.
A cordon and 656ft (200m) exclusion zone was lifted at about 18:15 GMT as the bomb was removed to a quarry in Kent to be detonated, police said.
The Metropolitan Police force said the device was a 'SA' 250kg WWII German air-dropped bomb, known to the Army's Royal Logistic Corps bomb disposal experts.
(BBC News)